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." i'm maria bartiromo at the new york stock exchange. the house of representatives voting right now. they have a number of measures to vote on before speaker boehner's plan "b," but we'll continue to monitor capitol hill for any developments. meanwhi meanwhile, i'm here with scott wapner. the market modestly higher despite uncertainty over a fiscal cliff deal. new information coming up in moments. >> good to see you again. scott wapner in today for bill griffiths. less than one hour to go in this trading day. the dow is positive now, just off the highs of the day. good for 39 points. nasdaq's higher, s&p is higher as well at this point. all eyes certainly on the nation's capital though today, maria, and here at the stock exchange. >> absolutely. first, here is what we know. global exchange officials right now are discussing how to respond to an $8.25 billion deal announced today between the new york storage and intercontinental exchange. there's been informal discussions with the stock exchange about a deal as recently as last week but the nyse, afraid to have another deal blocked b
the jeffries trading floor today in new york. peter, you have a lot of different scenarios, but the most likely scenario that you think is that the blackberry fails, there is no acquisition on this and the cash firm continues? >> yeah. we think it costs about $1 billion to launch these devices. if successful, we think an access possibility goes up. if not, we see the company become much, much smaller a year from now. >> how do you measure success? and when we we know on this? >> we'll probably know around around/may next year. success would be call it 3 to 5 million units in the first quarter out of the gate and 5 million units plus after that. to us, that would be a very good launch. >> for anybody who is actually a blackberry user still, what do you say about these things? if there's a takeover, does that mean blackberry continues? what's the long-term outlook for the company? >> i would suspect that if you're a blackberry user, there's very little chance that your service is going to be cut off. that is a key cash flow driver for the company and anybody who would want to buy isn't concerned
that don't live in new york, here is look at the tabloids this morning. the "new york post," off the fiscal cliff. this fall is really going to hurt. ben white of morning money, dennis, said an excuse to get a bic can keeney on the cover. >> relatively slow news day. what geithner did yesterday is almost as if he is strapping a damsel in distress to the tracks and saying the stakes are rising higher. the markets are taking all this tension, all this sort of -- these things at stake to really make the point perhaps that you have to have those stakes really high for people actually to get a deal. >> on "fast" last night when that letter crossed in the green rooms, we were chatting, we said this sounds like a ploy on the part of the treasury to actually get people to start moving. obviously, there wasn't a market selloff, did have the stumbling blocks and traders on friday said almost better if we did see the markets pull back more to crystallize what this could mean for the u.s. economy to members of congress. we didn't see that. it is a numbers game though in terms of what will happen. we kn
than post nine where i'm stationed on the floor of the new york stock exchange for "squawk on the street" to see this new acquisition dynamic play out. today nyse euronext agreed to be acquired by intercontinental exchange, a young upstart with not even a dozen years of trading under its belt. this went from $24.32 and change, had a fantastic appreciation, which shows you how an iconic american business can be worth much more than it's trading floor, providing a competitor gets to acquire it. separate these companies, know what they are? they're part of a dog eat dog universe of exchanges and an industry with way too much capacity. together they become the global powerhouse that can dominate futures trading. in other words, this is a dodd-frank legislation made me do it deal. it shows both companies are willing to do what's right for you, the shareholders, even if our leaders aren't willing to do what's right for you, the taxpayers. sadly the new york stock exchange is something that we used to come into a newer company because the equity business, which is its bread and bu
a good christmas. i'm melissa lee. we're live from the new york stock exchange. jim cramer has the day off. the latest s&p schiller home price report has been released. the results being shown at the bottom of your screen. david blitzer will join us with a closer look at the numbers in just a few minutes. let's get a check on how we're setting up on this day after christmas trading session. the dow looking higher by about 15 points. s&p looking at about two points at the open. european markets closed on this day after christmas. the uk and france among those celebrating foxing day. we start off with, what else, retail. dips in spending in the mid-atlantic and northeast regions. luxury sales also weak. >> we're coming off the worst christmas eve for the dow since 2006. as the president cuts short his hawaiian vacation to deal with the fiscal cliff, just five days to go until we go over. >> threatening both coasts with workers snubbing up best and final contract offer. >> and more on the home front. we'll have more on the data and whether it can keep one of the best performing sectors of
money pro. doug told "the new york times" in a piece that led today's business section that one of the biggest stock market worries, the main from higher capital gains and dividend taxes would barely have an impact on the market. because so few individuals have taxable accounts. only 14% down from 29%. dog's calling it a canard. and others say the job cuts for 2013, which seems to be put as many as two million to be made jobless woend be as fast or as high. plus the tax increase can be rolled back. in other words, a deal will eventually be reached, so while bother to sell. okay, so the it's all overdone crowd may have a role to play here. particularly because it turned out that when we got a deal to avert the debt ceiling back in the summer of 2011, we caught a gigantic rally. it wasn't a mistake to sell. this is debt ceiling two. let me tell you where i come out. while nothing is irreparable in putting things back together if we go over the cliff. i'm getting worried about what will happen. certainly more than the school who says that the dire predictions are off the mark. i'm
room in some of the smaller stores? >> yeah. >> will we see these things in new york? >> you may see them in new york, but the best example we talked about last time was the pub, the pub idea. >> yes. >> we had that and started out in one and now have 55. turns out people enjoy getting together and gathering and relaxing after work. >> okay. now, you also did a study most recently a lot of -- a couple guys joked. ask him about whole paycheck and a lot of what i buy at whole foods is now cheaper than local merchants. >> right. we've talked about this. work really hard on our competitiveness. quality and value, quality and value, it's always a dance. i think we are fundamentally more competitive. and i'm looking you in the eye and saying, hey, we are going to be competitive unlike product because we're going to continue to grow the company. >> you have been doing terrific work rolling out private label. >> right. >> is there a balance? some people want to see those branded in the store, don't want all private label. other people, some of the branded companies, they can't be that happy
before christmas. i'm carl, with melissa lee, david faber at the nyse. the new york stock exchange and nasdaq closing at 1:00 p.m. eastern time. the futures, a little bit of weakness here which we'll talk about in a minute, after it comes after a pretty bad day on friday. the european markets closed for the christmas eve holidays. london, paris, spain have each completed shortened sessions in light of the christmas holiday as well. the friday sell-off, only five trading days are left in the year. is the market getting used to the idea that a fiscal cliff solution will not happen before year end? >> only a few hours remain to finish your christmas shopping. but some words of caution for toymakers. are tablets and apps ruining the season as kids get more accustomed to technology? >> microsoft windows 8 gets more bad press today, as "the new york times" said it is not leading to a boost in pc sales. is there anything that can turn that lagging sector around? futures moving lower, as concerns about the fiscal cliff talks weigh on the market. talks about progress toward a deal sent the
at the lead story, business section of "the new york times." "fiscal cutoff gradually morphs into fiscal horizon." than we get a deal january 1, 2, 3, but people talking mid-january, talking about end of january. i saw one of the pieces, early february for the first time. >> early february. right. >> i thought the markets were supposed to be going into sort of t.a.r.p. style dives by now. when does that happen if it does ever? >> yeah, well, i would still say, you know, as i said a couple of weeks ago, if that's going to happen i would stay probably bo probably goes into february when you bring in the debt ceiling. i think one of the most dangerous statements made i think last week was just when they said, well, we're willing to do a small deal now and really hammer this home in another debt ceiling debate. and i think -- if that becomes the mode usond reven-- the mo mos eperendi, it will weigh more negatively. the bottom line is, the data's been good. i'm not saying that the market's done the wrong thing. >> quickly because we got to go, my sense and great worry is that people saw what
] glucerna hunger smart. a smart way to help manage hunger and diabetes. >>> imagine going from new york to key west in just eight hours in the lounging comfort of that big sleek train. you could do it, if you lived in china. once again, america's proof we are falling behind in infrastructure. thanks for watching "street signs." i'll send it to "closing bell." >> and hello again, everybody. welcome to the "closing bell." i'm mandy drury sitting in for maria bartiromo. happy boxing day as well. >> christmas is over but mandy has been celebrating boxing day all day. we didn't get any presents from lawmakers in washington yet. we're still five days away from falling off the proverbial fiscal cliff and wall street, like everybody else, is waiting for some kind of a solution here, and as you can see by today's numbers the waiting game continues, although we thank brian sullivan and you, mandy, for bringing us back to positive territory in the last hour. >> i'm not sure we can take credit but we'll take it. >> the dow is up a fraction at the moment. 13,139 after a meandering much of the day. t
the audience what we're talking about. >> the front page article on the "new york times" is titled bribery aisle. it's about walmart and the mechanics cal can business that was aggressive and creative and a corrupter offering large payoffs to get what the law otherwise prohibited. the times reports that the retailer wanted to build a store in an alfalfa field in a town's main entrance which was barely a mile from some ancient pyramids. the town's elected leaders had prevented the new zoning map that would have prevented it. walmart officials decided to undo the damage by a well played bribe and the guy drawing the map drew it a little differently. >> that's exactly what happened. they found the old map and the new map. they found a disk in a shoe box showing the differences. it was incredible. >> the zoning map would not become law until it was published in a government newspaper, so walmart reportedly arranged to bribe an official to change the map before it was sent to the newspaper. walmart issued a statement saying the allegations are part of that company's ongoing investigation of the
of daylight. that's the forecast for today as we get toward new york. high around 43 degrees. buffalo up to around 38. boston, high of 40. into the midwest, we're warming up a little bit here around chicago. we've got temperatures working into the 40s today. 51 in st. louis. 38 in minneapolis. that's going to feel nice after a couple of days in the teens. here's the preview for the next storm. this arrives for saturday. mostly rain. snow across minnesota. northern wisconsin doesn't look like a major event. but for some of the ski areas, new york state up into new england, sunday, this could be a good-looking forecast. maybe some snow here. looks like rain down the city toward washington, d.c. too warm for snow out of this one. stay tuned. next wednesday, guys, could be talking about a nor'easter, it's been a while since we've seen one of those. >> oh, no. >> just want snow. it's not -- correct me if i'm wrong because i've been wrong, it's not winter yet, is it? i'm afraid to say how many days it is because i'll mess up the math. it's not winter yet. we -- >> it's technical. in weather wo
" on this final friday trading session of the year. i'm carl quintanilla at the new york stock exchange, along with melissa lee. >> that's a good song. >> i actually requested that a few moments ago. cramer and faber had the day off. the market has a few jitters as we enter what is going to be an interesting day. of course, the meeting at the white house, 3:00 between the president and some congressional leaders. as for europe, getting some data out of japan overnight and some data out of europe. currently red arrows across the board, in london, paris, and frankfort. our road map begins at the white house. congressional leaders set to meet with the president, 3:00 p.m. this afternoon. senator reid has already said hopes of a deal are fading quickly. just two trading days left until the cliff. and it's not just the fiscal cliff. wind farms and dairy are set to get hit. >> the ports of the east coast and gulf coast are bracing for a potential strike. the potential for this, midnight sunday with a shutdown threatening to threaten 20% of the cargo traffic. >> and instagram feeling the sting of the
in a real way? >> i don't know of any specifically, but they're basically all saying it. new york city comes to market multiple times a year. >> all the old bonds will be type. is that right? >> i'm going to make the stand and say that they will. but in the last -- >> then they become more dear, won't it seems to me. >> yeah. but what had happened is that last week and the week before, all of a sudden there was this thought because it had been thrown about that it wouldn't be retroactive. on top of that -- >> why wouldn't that cause him to go up? >> because that means that the tax, the cap on deductions would be retroactive to all bonds. >> it wouldn't be retroactive. >> no. what happened two weeks ago was that had been on the table. >> that it would be retroactive? exactly. >> how can dow that when speak -- >> right. when people bought it on the expectations. on top of that sending the market into the additional turmoil, you have all the brokerage firms saying, you have huge gains. you have more coming into the market. >> the question is, given that weakness, given all that selling, are you
delays there. in vegas, miami and new york, minor to no delays whatsoever. that's the good news. very quickly, let's talk about the east coast. so far, so good. scattered showers on parts of the coast, but new york city expecting a high of 45 today. mostly sunny in the ohio valley, into parts of the northeast. still scattered showers in parts of south florida getting very close to the record, the yearly record of rainfall in miami. as we wrap it up, from fargo and on the other side of the river, expect snow showers. still balmy, beautiful showers in dallas. mostly sunny and 65. back to you. >> reynolds, thanks so much. thanks for flag along. >> you bet, guys. >>> americans want action when it comes to the fiscal cliff. john, you'll give us some of the highlights, but with what we've told them about what will happen if we go over, i guess we shouldn't be too shocked that they don't want to go over. we've basically said there could be a recession, there could be millions of job losses and everything else. so i guess we probably shouldn't be surprised by that. >> no, we shouldn't. they'v
measuring these things bay back in the '60s. out of all the boats registered in new york, something like 6.8% were damaged in new jersey, the figure was over 15%. so you have this big group of boat owners with insurance checks in hand which suggests to me we're about to see a big surge in boat buying. and that means the stock to own is brunswick corp. bc. the number one maker of boats on earth. now, you might think this would be a bad time to buy brunswick, given that this company makes some of the most discretionary items imaginable. basically a toymaker for the rich. and taxes on the rich are about to rise in a big way. even if we get a fiscal cliff deal. it will almost certainly include higher rates for the top 2% because the bobama refuses to b from that position. if the wealthy are going to get hit with a major tax hike, does it really make sense to own the stock of a company that owns motor yachts? not only that, but brunswick also makes billiard tables, fancy fitness machines and bowling equipment. bowling may be more of an every-man activity. i've got my own ball and shoes, yet thr
monday morning. welcome to "squawk on the street." we are live from the new york stock exchange. let's take a look at the u.s. futures set up for the open first of the week. dow looking at about 50 points right after the open. as for the action in europe, taking its cues from the united states. we'll see a big rally in china extending one of its biggest rallies in three years. we have a mixed bag in europe with italy up by about .2 of 1%. >> we'll do our best to keep focused on the business day. we'll be following the tragic shooting in connecticut, of course. the new york stock exchange will hold a moment of silence to honor the victims in the next few moments, and we'll be looking at the president's call for meaningful action and the politics of gun control. >> let's get to a road map for this morning. it starts with apple. under pressure once again. even dipping below $500 a share at some point this morning. shares will remain range bound near term. iphone 5 sales and cannibalization among the region. >> other concessions from the gop, the speaker proposing tax hikes for millionai
, for the markets? i mean, we would never see the new york stock exchange and the i.c.e. wouldn't get together. we couldn't get that fine from ubs. >> how about the big options to live for? >> there may be some stuff. this may be the christmas week to be here. >> it may end up back here at some point. >> you really think so? >> we made it -- >> but i'm not sure. >> we mentioned where the fiscal cliff was only slightly below the end of the world in terms of seriousness, haven't we? and now that we've made it past that, we're going to focus. and then you have the debt ceiling. >> that would be funny. >> this whole thing gets pushed up to the debt ceiling. >> john can talk about this incredible ground swell in the country for everything that the president wanted, even though we know what this coalition was sort of cobbled together. and we know there was a great campaign that he ran. >> i know. but the way we set these things up is you have to have a referendum on these things. >> but you need both houses. that's a law. and these guys are willing. they'll fall on the floor. >> i don't know that anybod
. connell: time to go back to the new york stock exchange and get a check on the markets. nicole: let's take a look at a mover. stocks now every 15 minutes. we have a big winner here. big lots. the stock is up 7.8% right now. they have a list of headlines. that is some good news there. they raised their full earnings production. interestingly enough, their ceo is set to retire. he will be stepping down. he won't do so until a successor is found. they are on the search for a new ceo. as far as our major market averages, they are down fractionally. names that are under pressure include american express, at&t, hewlett-packard, i am sorry, that is home depot, and, also, jpmorgan. we were building into december, the month of december is the best performing month of the year. many know that. average returns are 1.7% to the upside. this date all the way back to 1950. december is a stellar year for the s&p 500. connell: a lot more still to come. we have this multibillion dollar judgment against yahoo!. investors now on the run. dagen: reggstering a record year taking a look at how the treasury marke
was interesting. he ended his last speech at the economic club of new york, i believe, by saying if we could just get past what is ultimately a stupid debate. >> right. >> there's some momentum here. and quite frankly for a lot of us in the market, we'd like to move past this. >> do you expect, however, while we fight for this fiscal cliff baloney, do you expect the market selloff? >> sure. >> today notwithstanding, but it finished well off the lows today. >> as jackie talked about, it's up for the week. for the month. i think there's still a modest positive gain. what's interesting in this debate is the two previous times we've increased capital gains, nixon in 1970 and reagan, of course, with the tax reform act of '86. the december preceding the adjustment, the stock market was down. december 1969, december 1986. i don't think people have believed they wouldn't get a deal. when we talked about we're going over the cliff after the election, i think we were the only ones in some level, at least prominence in the ability of coming on your show. we were the only ones saying that could happen. >> ca
house. >> heavyweights. >> these are the most actively traded stocks at the new york stock exchange right now. stay with us. back in a minute. [ male announcer ] at scottrade, you won't just find us online, you'll also find us in person, with dedicated support teams at over 500 branches nationwide. so when you call or visit, you can ask for a name you know. because personal service starts with a real person. [ rodger ] at scottrade, seven dollar trades are just the start. our support teams are nearby, ready to help. it's no wonder so many investors are saying... [ all ] i'm with scottrade. it's no wonder so many investors are saying... excuse me, sir i'm gonna have to ask you to power down your little word game. i think your friends will understand. oh no, it's actually my geico app...see? ...i just uh paid my bill. did you really? from the plane? yeah, i can manage my policy, get roadside assistance, pretty much access geico 24/7. sounds a little too good to be true sir. i'll believe that when pigs fly. ok, did she seriously just say that? geico. just click away with our free mobil
tracks? more on that. >> and hear what this small business owner in new york city, where we are right now, thinks about the cliff crisis. >> i'm annoyed. i'm annoyed with the fiscal cliff. we're looking at not knowing what's going to happen. we fall off this cliff, an everyone gets affected. there's no trickle-down effect. it's more like a slush. we'll lose income. the question is how much income are we going to lose? if we fall off the cliff, the fear is that we fall off the cliff, not slowly glide down the cliffch the government at this point needs to understand that we should be able to trust you to do the right thing, put politics aside and think about us, the people that's why we have government. fix it. [ male announcer ] at scottrade, you won't just find us online, you'll also find us in person, with dedicated support teams at over 500 branches nationwide. so when you call or visit, you can ask for a name you know. because personal service starts with a real person. [ rodger ] at scottrade, seven dollar trades are just the start. our support teams are nearby, ready to help. it's no
. in this hour he will reveal number three. my partner sue herera on the floor of the new york stock exchange. hi, sue. >> hi, ty. it's a strong day with a triple digit advance. we have 13 days until america goes off the fiscal cliff. events moving faster in washington. house speaking boehner meeting with party members, moving to plan b. that deals with bush era tax cuts. the white house rejected that. investors like whatever progress we're seeing. s&p 500 at a two-month high. s&p up 1 1/3 -- 1.1 on s&p, dow jones industrial average up 114 points, almost a full% enand nasdaq up 1 1/3. the latest on how those negotiations are progressing. >> over the last 24 hours or so we've had a flurry of proposals, counter proposals, responses, responses to responses. as it lies right now, basically all those responses have been rejected by the other side. at the top of 2:00, we should have a new round because we're going to expect to hear from the senate democratic and republican leaders coming out and talking to cameras. we might get more reaction then. but earlier today speaker boehner came out and unveiled
bus a deal ever getting done. alison kosik at the new york stock exchange. >> already down for the dow 117 points. kinding seeing a shift in attitude. if you see what's happening over the last few weeks wall street has been banking on a deal and you can see that in how stocks performed. the s&p 500 is up over the past month. guess what? now wall street is nervous, one analyst says this plan b vote was a litmus test for congress's ability to work out a solution. the way wall street sees it now this is a sign of gridlock. the s&p pa 00 is up 15% so just to put that in perspective, get ready for a tough friday so it's hardly time to panic. the sell-off won't last through the end of the day so they're more optimistic. >> could a sell-off influence washington to get something done? >> a sell-off could be a wake-up call for congress, just out playing chicken with the economy and it has worked before. you look at 2008, stock sold off after the house initially rejected a bank bailout. congress came around and passed it. it may take a direct hit to give lawmakers a kick in the butt especially s
, everybody. take a look. 234 our headlights this morning, new york city mayor michael bloomberg is considering whether to make a bid for the "new york times." the ft's publisher is about to lose two of its top executives, raising speculation that the newspaper could be up for sale. eric fisher joins us from the weather channel this morning and, eric, it was not cool out here today, but i did see a lot of rain. is that around the country, as well? >> it is. we're watching winter storm caesar. this is what it left behind. blizzard conditions around south carolina and north dakota. over in minnesota, we have anywhere from 8 to 17 inch snowfall totals. a lot of cold air behind the system. eventually that will get over towards the eastern seaboard. 12 in minneapolis. 8 and below in international falls. you get over towards chicago and into des moines, st. louis, gusty winds bringing those windchills way down. winter finally showed up here across the upper midwest. here in the northeast, there's the rain we were talking about around boston. a little bit of a break this morning. the bi
. >> well, wasn't it in -- wasn't it in "the new york times" magazine, you really don't remember? >> oh, michael wolf's piece. >> what was it called? >> cover of new york magazine the best piece ever. i love my mother, now i wish she'd die. it was one of the best pieces ever. sounds all sick. >> you are sick. >> no, no. but it was one of the most fascinating pieces about the sort of emotional family and the economics -- we got to go. coming up, president obama calling a meeting with leaders from the house and senate today. can the fiscal cliff deal be reached? we're going to astrategists fro both sides of the aisle. plus, we're going to welcome a man who knows the world of washington and wall street very well. the great grandson of the 27th president and leading financial ceo in his own right, john taft is going to be our guest host. n] you are a business pro. omnipotent of opportunity. you know how to mix business... with business. and you...rent from national. because only national lets you choose any car in the aisle. and go. you can even take a full-size or above. and still pay the
to nicole petallides at the new york stock exchange. nicole: there you go. i am glad it is working. let's take a look at lulu lemon. the stock is actually higher. you think of maybe overpriced deals. they are very good and very good quality. it is based in canada. the stock is to the upside. part of a profit and the analysts expectations. the one thing that we should note is sales growth has actually been slowing. that is not a good sign, the winning numbers therefore lulu lemon. let's take a look at the broader market, as well. we are all waiting on the jobs report tomorrow, clearly. major averages not too far off the unchanged line. the nasdaq composite finally back in the green. it has been weighed down by apple. right now it is up about .5%. dagen: charles payne loans" lulu lemon. he is not here to talk about that. holy moses. charles: he had a bad stuttering problem. connell: the salesperson? charles: he was so outgoing. i just loved him. all the people who have excuses for not working, here is a man who has a stuttering problem and he was working. connell: you have yoga pants? dag
, showing the world we know how to run the government of the united states. >> paul krugman in "the new york times" has an interesting op-ed and starts off by saying we are not having a debt crisis and says this is really a political crisis. let me read a bit of it. americans may nod their heads when you attack big government in the abstract, but they strongly support social security, medicare and even medicaid. and he's talking about his framing of the gop. part of the problem, americans have a sense against big government, but when it comes to big government, people don't want to cut those things of what they think are part of what americans deserve to have. >> i put the blame on that squarely on the political leadership in washington. i think the country is hungry and would response to someone how you fix the whole problem. these are the pieces that you need to put together to get us out of this mess. instead, focused on aspects of the thing, and about whether marginal tax rates should go up or not, and what ought to be done about entitlements in the short term. people respond and will re
? joining us now in studio, we welcome distinguished house members carolina maloney of new york and larry kudlow's house member in manhattan. and the republican from arizona. as always, welcome to both of you. dave, let me ask you this. i'm hearing a lot of this that there is a strategic retreat by the republican party. 57b and that they are not either in the house or senate going to block the middle class stax tax cuts which proliferate in terms of the bill. is that true, sir? >> i haven't been invited into the strategic retreat caucus. look. i hear more on the news than i ever actually come across in reality in d.c. so far, i do not see a willingness, particularly on the conservative side of the caucus, to give away our principles. >> i heard rand paul thursday night on this show. he sent a message to majority leader reed that he, rand paul, was a tea party caucus guy, free market guy, will not filibuster. he wants to get through it. he's going to vote against tax cuts but will not filibuster. there are a coup ohlele dozen house members, as you know, who signed the bipartisan letter say
in new york. >> absolutely. you don't have to just trade the s&p 500. i mean, look at tonight, you're seeing australia up a third of a point. the japanese yen is doing very well. look at hong kong. if you want to take what the federal reserve did and apply it internationally, look at hong kong. their monetary policy is pegged to what the federal reserve does. but they have an inflation issue and their economy is tied to china. so if you buy something like ewh, the hong kong etf, all those stocks are priced in hong kong dollars. if the hong kong dollar is repegged, the ewh will go up as much as the repegging. >> what does that mean for the u.s. market? where are you on the u.s. market right now? >> you know, i think right now, probably to the end of year, if we can get some kind of movement on this fiscal cliff, you have a real potential for a pop, 3%, 4%, 5%. unfortunately, as i look to 2013, i'm looking at u.s. austerity. so the question is how much is that going to be, and if it's a lot and the rest of the world can't pick up the slack, then we've got problems. if it's just a lit
on, now you're talking about high income cities like new york. you're talking about 53% plus another 3.8% with the obama care medicare surtax. >> so 53 -- 57% of the wealthiest out there -- 57% of their income is going to the government. then ron, you also agree even with that the habits are unlikely to change. >> well, that all depends. someone making a million dollars, $100,000 from dividend, 85 from capital gains. under the 250 rule, they're seeing their taxes go up $70,000 or so. under the million dollar proposal by boehner, that's a $30,000 increase. $30,000 is not that much. but it is after tax money. 70,000 is another number. i think it will affect them somewhat. i'm more worried about their future of what they'll not be saving. even the wealthy have to worry about the future. >> so how does it impact spending and give us the ripple effects of these higher tax rates and how that ripples down. >> you're talking about $6,000 a month out of their pocket. that's $6,000 is often today going to their kids, going to gifting, and going into the market. all that will get shut off. and
. -- pennsylvania, new york. there are federal dollars that pay for maintaining those highways. you can't have a million people pay for all those highways because it connects the entire country. you have forest service, 30% of the land is owned by the federal government. so there's a lot of federal dollars that come to montana. that's part of the system. >> what would be the economic impact, going back to what the farmer was telling us about the situation, if estate taxes go up 55%. we're going to see farmers cutting back on the size of their farms, some may even go out of business. what's the economic impact and how can you mitigate that, governor? >> the difficulty here is over the long-term. naturally, sometime during january if we go over the cliff which is more of a hill, these congressmen will come to their senses. they've gone completely crazy and apparently if you vote for something on december tlonl, then it's okay with grover nor quist and if it's after december 31st, it's something else. look, a pledge is one thing, but look right now we've been spending money on a credit card natio
will be on taxes? >> i see it going off to 200, and i think democrats especially from new jersey, new york, connecticut, that would be fine with them and it's just a matter of damage control. >> and will republicans have to pay in any way for something that has no spending cuts in it. >> ideally, a lot of these guys would like to wait until january so they can say we voted for a tax cut and the new status quo is where all of the taxes have gone up. i'm sure there will be primary challenges. >> what do you think? >> first of all, let me be clear. i think 50/50 at best for exactly the reason you cited. i can't imagine that reid and mcconnell are having a happy discussion right now, so there will be serious differences there. for example, if mcconnell insists on keeping the estate tax parameters where they are instead of going where the president is, that completely seals the deal and that's one piece. >> michelle, you've made that point throughout the show, and i partially agree with you, but i will tell you this. right now everybody in this town is focused on taxes and preventing 98% of hou
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